Espen Jorstad topped the second largest main event arena in World Series of Poker History of a huge first place prize bank of $10 million.
But how much of this money did Gorstad actually have in his pocket for himself? Did he sell any parts or had backers? Working with other players? What about taxes?
As it turns out, Jorstad had no problem sharing numbers. The 34-year-old poker player revealed his summer stats on Twitter, explaining that he had traded with 14 different players. The swaps ranged from 1% ($100,000) to 7.5% ($750,000), leaving Jorstad with 56% of his business ($5.6 million).
Of course, it’s possible that a few of the other 14 players also cashed in the main event, giving Jorstad a discount on some of these swaps.
“Very nice feeling to make a lot of money for my friends!” Gorstad said.
Norway’s gambling tax rate is 28%, which would have represented $2.8 million of the total payments, or $1,568,000 of his stake.
Fortunately, the Norwegian will not be subject to any taxes as he is now residing in the UK. The UK does not levy taxes on gambling winnings. He follows in the footsteps of last year’s champion Coray Aldamer, who evaded a huge tax bill from his native Germany by living in nearby Austria instead.
Jorstad also showed that he was mediocre in the 15 tournaments he played before the main event. At one point, he played 10 tournaments in a row without making money, but he broke the streak dramatically, winning his first WSOP . World Series of Poker $1,000 Tag Team event bracelet.
Jorstad teamed up with fellow online poker superstar Patrick Leonard to take down the tournament and $74,033 each. That was enough to turn the summer around and finish with a profit of $29,690 before the start of the $10,000 main event.
Final numbers for Vegas summer!
Excluding the main, I finished +$29,690 live, and maybe +$10k – $15,000 online.
For complete transparency, I had 14 different swaps (all between 1% and 7.5%) mainly, and roughly 56% of my own. Feeling very nice to make my friends a lot of money! pic.twitter.com/QtU2qoJ5lX
Espen Olin UhlenPoker (@UhlenPoker) 26 July 2022
When asked what he plans to do with the money, he said Run it once The coach stated that he will invest heavily in tech stocks and cryptocurrencies, and hopes to play more high-profile events.
“I dipped my toes, but now I have more credit to take some shots in those tournaments. I need to get into the lab and make sure I’m good enough to play them.”
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